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IKEA drops price on more than 700 items to help with cost of living

The company wants customers to be able to spruce up their home without hitting their wallets too hard.

IKEA is helping Aussies battling the cost of living by lowering the price of more than 700 items.

You might not have had enough cash to splash out on a new desk or couch recently as inflation, interest rates and other economic factors squeeze more and more cash from your bank account.

But if you’ve had your eye on IKEA flatpack furniture, then now is the time to pounce. Prices of furniture, lighting, textiles and storage have been dropped from today (March 26) by up to 20 per cent.

IKEA wardrobe next to an IKEA store
IKEA is slashing the price of more than 700 items to help Aussies struggling with the cost of living. (Source: IKEA/Getty)

Do you have a story? Email stew.perrie@yahooinc.com

“We know how tough Australians are doing, the cost of living and affordability is more important than ever as many Australians face rising costs and increased inflation,” IKEA Australia selling manager Ainslie Woodham said.

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“Like most businesses, IKEA has not been immune to rising costs from supply chain and operations — however, as a business we’ve made a commitment to not pass these costs on where possible.”

A KALLAX shelving unit has been brought down from $69 to $49, while $50 has been wiped off the cost of a HEMNES chest of three drawers and the BRIMNES bookcase. You can get an EKTORP sofa for $599 instead of $799, and a PAX wardrobe for $780 instead of $1,000.

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IKEA said it was able to adjust the price of its items after making savings from its supply chain and being more efficient in its operational practices.

“IKEA is focused on reinvesting these savings to reduce the prices of the most iconic, in-demand and lowest-priced products across the range to increase its affordability for customers at a time where it’s most needed,” a company spokesperson said.

“Creating a better everyday life and securing the lowest prices has been a pillar of the IKEA brand’s Democratic Design philosophy for the past 80 years.”

IKEA has reduced the price of more than 3,000 items in the past 12 months, which amounts to $125 million in savings for customers in Australia.

The company’s recent Life at Home report found 43 per cent of Australians believed their household finances and disposable income were a top concern, while 38 per cent were concerned for the current state of the economy in the country.

Some of the items currently discounted at IKEA

  • The IVAR series, such as the IVAR shelf 89x50x179 pine - was $220, now $165

  • KALLAX shelving units are further reduced, including the KALLAX 77x77 white - was $69, now $49

  • The BRIMNES series, such as the BRIMNES bookcase 60x190 white - was $199, now $149

  • The HEMNES range of beds, bathroom and chest of drawers, such as the HEMNES chest of 3 drawers in white stain - was $349, now $299

  • The LOHALS range of rugs, such as the LOHALS rug flatwoven 200x300 natural - was $199, now $169

  • The PAX wardrobe system including KOMPLEMENT organisers and fronts, such as the PAX wardrobe 17x58x201 in white - was $1,000, now $780

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